ArcelorMittal announces the completion of its 85 million shares buyback program
2 April 2025, 10:30 CET
ArcelorMittal (the 'Company') today announces that it has completed the 85 million shares buyback program it announced on 5 May 2023 under the authorization given by the annual general meeting of shareholders of 2 May 2023 and continued under the 30 April 2024 annual general meeting of shareholders authorization.
By market close on 1 April 2025, ArcelorMittal had repurchased 85 million shares. All details are available on the Company's website at: https://corporate.arcelormittal.com/investors/equity-investors/share-buyback-program.
ENDSArcelorMittal is one of the world's leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore.
Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
http://corporate.arcelormittal.com/
Contact information ArcelorMittal Investor RelationsGeneral
+44 20 7543 1128
Retail
+44 20 3214 2893
SRI
+44 20 3214 2801
Bonds/CreditE-mail
+33 171 921 026investor.relations@arcelormittal.com
Contact information ArcelorMittal Corporate Communications Paul WeighTel:E-mail:
+44 20 3214 2419press@arcelormittal.comSign in to access your portfolio
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For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this press release. 51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. 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The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Safe Harbor Statement This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "aims", "future", "intends", "plans", "believes", "estimates", "likely to" and similar statements. Among other things, 51Talk's quotations from management in this announcement, as well as 51Talk's strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 51Talk's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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Further information regarding these and other risks is included in 51Talk's filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. 51TALK ONLINE EDUCATION GROUPUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands) As of Dec. 31,Mar. 31,20242025US$US$ASSETS Current assets Cash and cash equivalents27,75829,415 Time deposits1,43090 Prepaid expenses and other current assets10,90612,506 Total current assets40,09442,011 Non-current assets Property and equipment, net363620 Intangible assets, net8077 Right-of-use assets2,8882,297 Deferred tax assets5756 Other non-current assets460433 Total non-current assets3,8483,483 Total assets43,94245,494LIABILITIES AND SHAREHOLDERS' DEFICITS Current liabilities Advances from students 45,06447,892 Accrued expenses and other current liabilities 6,6446,910 Amounts due to related parties2,8533,161 Lease liabilities1,2421,027 Taxes payable1,1001,169 Total current liabilities56,90360,159 Non-current liabilities Lease liabilities1,4411,158 Other non-current liabilities310318 Total non-current liabilities1,7511,476 Total liabilities58,65461,635 Total shareholders' deficits(15,000)(16,422) Noncontrolling interests288281 Total deficits(14,712)(16,141) Total liabilities and shareholders' deficits43,94245,494 51TALK ONLINE EDUCATION GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands except for number of shares and per share data)For the three months endedMar. 31,Dec. 31,Mar. 31,202420242025US$US$US$ Net revenues 9,44916,23618,247 Cost of revenues (2,128)(3,651)(4,205) Gross profit 7,32112,58514,042 Operating expenses Sales and marketing expenses (7,761)(10,121)(11,077) Product development expenses (948)(933)(1,041) General and administrative expenses (2,599)(2,389)(3,217) Total operating expenses (11,308)(13,443)(15,335) Loss from operations (3,987)(858)(1,293) Interest income 822720 Other expenses, net (86)(421)(59) Loss before income tax expenses (3,991)(1,252)(1,332) Income tax expenses (22)(162)(157) Net loss (4,013)(1,414)(1,489) Net loss attributable to noncontrolling interests (19)(36)(19) Net loss attributable to the Company's ordinary shareholders (3,994)(1,378)(1,470) Weighted average number of ordinary shares used in computing basic and diluted loss per share 345,124,338348,918,600351,595,585 51TALK ONLINE EDUCATION GROUPUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(In thousands except for number of shares and per share data)For the three months ended Mar. 31,Dec. 31,Mar. 31,202420242025US$US$US$Net loss per share attributable to ordinary shareholders Basic and diluted(0.01)(0.00)(0.00)Net loss per ADS attributable to ordinary shareholders Basic and diluted(0.69)(0.24)(0.25)Share-based compensation expenses are included in the operating expenses as follows:Sales and marketing expenses(29)(30)(48)Product development expenses(33)(32)(13)General and administrative expenses(225)(145)(218) 51TALK ONLINE EDUCATION GROUPReconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures(In thousands except for number of shares and per share data)For the three months endedMar. 31,Dec. 31,Mar. 31,202420242025US$US$US$Sales and marketing expenses(7,761)(10,121)(11,077)Less: Share-based compensation expenses(29)(30)(48)Non-GAAP sales and marketing expenses(7,732)(10,091)(11,029)Product development expenses(948)(933)(1,041)Less: Share-based compensation expenses(33)(32)(13)Non-GAAP product development expenses(915)(901)(1,028)General and administrative expenses(2,599)(2,389)(3,217)Less: Share-based compensation expenses(225)(145)(218)Non-GAAP general and administrative expenses(2,374)(2,244)(2,999)Operating expenses(11,308)(13,443)(15,335)Less: Share-based compensation expenses (287)(207)(279)Non-GAAP operating expenses(11,021)(13,236)(15,056)Loss from operations(3,987)(858)(1,293)Less: Share-based compensation expenses(287)(207)(279)Non-GAAP loss from operations(3,700)(651)(1,014) 51TALK ONLINE EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands except for number of shares and per share data)For the three months ended Mar. 31,Dec. 31,Mar. 31, 202420242025 US$US$US$Income tax expenses(22)(162)(157) Less: Tax impact of Share-based compensation expenses--- Non-GAAP income tax expenses(22)(162)(157)Net loss attributable to the Company's ordinary shareholders(3,994)(1,378)(1,470) Less: Share-based compensation expenses(287)(207)(279) Non-GAAP net loss attributable to the Company's ordinary shareholders(3,707)(1,171)(1,191)Weighted average number of ordinary shares used in computing basic and diluted loss per share345,124,338348,918,600351,595,585 Non-GAAP net loss per share attributable to ordinary shareholders Basic and diluted(0.01)(0.00)(0.00)Non-GAAP net loss per ADS attributable to ordinary shareholders Basic and diluted(0.64)(0.20)(0.20) 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